Confusion in the construction industry can often arise between quantity surveyors and cost estimators; both roles play vital parts in any construction project, but their roles differ substantially, so how do you identify which professional will work best for yours?
This article illustrates that a quantity surveyor and cost estimator differ significantly in expertise and approach.
Construction Cost Estimators
A cost estimator’s primary duty is to generate early cost estimates that will aid contractors and subcontractors in winning tenders, so their primary responsibility must be developing accurate analyses using math, finance, and communication skills that lead to early cost estimates that help obtain tenders for projects. Estimators need excellent analytical, mathematical and communication abilities as well as up-to-date industry knowledge regarding issues impacting construction prices.
Contribute significantly to the profitability and success of construction projects by working for general contractors, subcontractors, or construction management businesses specializing in residential or small commercial developments.
These are all the tasks performed by construction cost estimators regardless of project scale
- Researching building materials and labor market rates; creating cost models for various construction projects.
- Analyse bids submitted for multiple construction jobs to verify they are correct and competitive with bidder expectations. Manage budgets as required for various construction projects.
- Negotiate contracts between contractor bids and clients.
What Skills Are Necessary To Become An Qualified Construction Cost Estimator?
Estimators must possess exceptional analytical abilities to conduct material and labor cost research and generate reliable estimates. They must also manage time effectively and finish multiple assignments within specified timelines. Due to the large volume of data they handle, computer and administrative skills may also be essential.
Cost estimators often possess a bachelor’s or associate’s degree in construction management, quantity surveying, or engineering; it may also be acceptable to hold an educational diploma or certificate related to construction.
Degree and diploma programs should include topics such as these.
- Cost Estimation and Analysis.
(Math, Statistics, Engineering Economics – Estimations) - Building Codes Estimations
- Accounting
- Engineering
- Economics
- Construction Management
- Sometimes, A Master’s degrees are needed for senior positions at major construction companies or working as self-employed consultants.
Quantity Surveyors
A quantity surveyor is an experienced professional specializing in cost management of building, civil and industrial engineering projects through his training and experience within these industries.
He specializes in all financial aspects of building, civil, and engineering projects, from cost management to contract administration.
Quantity Surveyors are commonly known by other names in the construction industry, such as Cost Consultant, Cost Manager, Technical Accountant, or Cost Engineer.
Quantity surveyors often perform more duties and functions than estimators. They oversee all elements of construction costs, while estimators focus on developing cost estimates for specific aspects of a project.
A surveyor plays an instrumental role in the pre-construction phase of projects, offering feasibility assessments, cost planning services, and value engineering solutions to ensure maximum project efficiency and savings. After construction commences, they also help provide final accounting to resolve any disputes and prepare cost estimates for insurance or loss adjuster companies.
To Become A Qualified Quantity Surveyor, It Will Require:
Experience in building with strong analytical and problem-solving abilities; impeccable communications and interpersonal abilities; proficiency with computer software programs like Procore
What similarities exist between them?
Quantity Surveyors and cost estimators share several similarities despite having separate duties and responsibilities. Both careers require extensive knowledge of construction concepts and methodologies, as well as mathematical, statistical, and computer skills. They play vital roles in making projects run more smoothly. Contributing to reliable estimates that help project managers reduce financial risks while increasing cost control. Ultimately assisting builders in meeting their project goals within schedule and budget. Therefore, both individuals are considered critical assets to its success.
What Separates Them?
Quantity surveyors generally specialize in larger projects, while estimators focus more on residential and small business endeavors.
Priorities They Hold
An cost estimator’s primary task is producing precise yet expeditious cost estimates to assist their customers in winning bids. At the same time, quantity surveyors offer Bills of Amounts (BOQs) detailing all materials and labour necessary for the completion of projects.
Tasks At Hand
Quantity surveyors tend to assist before, during, and after building project completion. At the same time, estimators often participate in tendering phases before projects commence. At these tendering phases, estimators produce cost summaries that consider labour, material, and feasibility requirements in their bid package – something quantity surveyors typically perform during construction. After winning the bid and commencing the project, quantity surveyors help with preparations before, during, and after project completion.
On the other hand, estimators typically become involved during bids; their tasks vary accordingly. Estimators typically contribute during bidding phases before projects commence. While quantity surveyors assist throughout and upon project commencement as needed. In contrast, quantity surveyors usually provide support before, during, and following project commencement to help with cost estimate presentations. So in truth without cost estimation input quantity surveyor will have nothing to show for.
Conclusion
Cost Estimators generally focus on providing early cost estimates to secure project bids. At the same time, quantity surveyors maintain control over building expenses throughout the process. Quantity surveyors specialize in larger, more complicated public and private projects; estimators specialize in residential and small commercial work.
Quantity surveyors offer more accurate cost predictions, monitor budgets during construction and possess special knowledge regarding tax depreciation.
We can provide reliable cost estimates that can help win bids. We also offers experienced quantity surveying and construction estimating services.
